123 marketing plan template

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    Business Victoria

    Marketing Plan TemplateOne of the most important, yet often overlooked areas for the small business owner

    is the development of a marketing plan. An effective marketing plan will act as a

    reference document to help you to execute your marketing strategy. It will also help

    you to develop a methodical approach to creating services and products that satisfy

    your customers needs.

    !hen writing a marketing plan you need to be clear about your marketingob"ectives and how youre going to achieve them. A good marketing plan sets

    realistic and measurable ob"ectives# includes budgets and action plans, and

    allocates responsibilities.

    $our marketing plan will include the following elements%

    A summary of your marketing plan

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    Business Victoria&arketing *lan

    How to use this template

    *rior to completing this marketing plan template, consider the following%

    1. Gather together your key business documents.Before you begin,gather together your key business documents. +his includes business plans,budgets, resumes, forecasts and registration documents. aving the rightinformation on hand will mean you can be more accurate in your forecasts

    and analysis as you move through the marketing plan template.

    2. Take your time and consider your specific needs. !ork through the

    template at your own pace. (tart by deciding which sections are relevant foryour business and set aside the sections that dont apply. $ou can always goback to the other sections at a later date.

    3. ecide on your audience.Its also important to consider your audiencewhen writing your marketing plan. !ill the plan be used internally- Or willyou be sharing it with others- eciding on the purpose of the plan can help

    you target your answers appropriately.

    !. "se the #italicised text$. +he italicised text is there to help guide you byproviding some more detailed /uestions you may like to answer whenpreparing your responses. Of course, if a /uestion does not apply to your

    circumstances it can be ignored.

    %. &sk for some assistance.If you arent confident in completing the

    marketing plan template yourself, you can enlist the help of a professional0i e business adviser or accountant1 to look through your plan and provide

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    **&I &arketing *lan ;:?=@

    *akistan *lanning &anagement Institute 0**&I1

    &arketing *lan

    Prepared ;Date prepared

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    **&I &arketing *lan ;:?=@

    +able of 9ontents

    $our Business...............................................................................>&arket Overview...........................................................................>&arketing Ob"ectives......................................................................>&arketing (trategy........................................................................>Action (teps.................................................................................@

    Background Analysis......................................................................C

    Business overview.........................................................................C

    *roducts% ;!hat products andDor services do you sell-...................................................................................................E

    (.!.O.+. analysis..........................................................................=(.!.O.+. activity sheet...................................................................:

    The Market /,er,iew.............................................................3&arket research and environmentalDindustry analysis% ;!hat researchhave you completed to help analyse your market- id you utilise a

    surveyD/uestionnaire- If so, you may like to attach a copy of yoursurveyD/uestionnaire and findings to the back of this plan. In this

    section, detail the results of the market research you have performed.9onsider /uestions such as%............................................................F

    0our Marketing......................................................................'&arketing (trategy% ;Gse this section to detail the overall strategy youwill use to position yourself within the market to meet your customers

    needs. !hatever your strategy, you goal should be to differentiatelf f tit t t t h

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    **&I &arketing *lan ;:?=@

    Marketing udget #0&+$....................................................1*

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    **&I &arketing *lan ;:?=@

    MarketingPlan )ummary

    #Please complete this page last$

    ;The marketing plan summary is a snapshot of your more detailed answers fromyour marketing plan. It should be easy to read and simple to follow.

    $our Business

    usiness name;Whats your business registered business name? If youhavent registered a business name, add your proposed business name here.]

    usiness structure;Whats the formal struture of your business? !re you asole trader, in a partnership, a trust or ompany?]

    &4;Whats your registered !ustralian "usiness #umber.]

    &54 ;Whats your registered !ustralian $ompany #umber, if appliable.

    usiness location;Where does your business operate from?

    ate established;When did you begin trading?]

    usiness owner6s7 ;Who are the owners of the business?

    /wner8s e9perience ;$reate a brief summary of your %and other owners&e'periene in the industry and any ma(or ahievements)awards.

    Products or )er,ices ;What produts and)or servies do you sell?

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    needs. Whatever your strategy, you goal should be to differentiate yourself from

    your ompetitors to enourage ustomers to hoose your business first.

    Action (teps

    Top 1; &ction )teps

    ;$reate a list of the Top 12 ation steps that will bring your theoretial

    ob(etives %your marketing strategy and ob(etives& to life. 3.g. 4inish 5.W.6.T.

    !tivity 5heet, omplete marketing budget

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    **&I &arketing *lan ;:?=@

    Background Analysis

    +he background analysis should give a snapshot of where you are right now,where you have been and where you want to go. Gndertaking this process willhelp you to define your businessJs capabilities and find opportunities within your

    particular market. 4inally, defining your core business elements will ensure thatyour marketing plan and overall business strategy work together seamlessly.

    Business overview;The overview should over the nuts and bolts of your business inluding7

    The name, struture and date of establishment

    Details about the owners %their names, roles and levels of e'periene et.&

    What your business is about %your business mission, vision and values&

    The key business ob(etives you would like to ahieve

    !n outline of the main produts and servies sold ! finanial analysis of your business inluding sales and profitability

    ! 5.W.6.T. analysis of your business to set a line in the sand

    usiness name;Whats your business registered business name? If you

    havent registered a business name, add your proposed business name here.]

    usiness structure;Whats the formal struture of your business? !re you asole trader, in a partnership, a trust or ompany?]

    &4 ;Whats o egiste ed ! st alian " siness # mbe ]

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    8ong +erm% ;What are three primary long+term goals for your business %1+B-ears&?

    Goal8/b:ecti,e escription y when

    ;Aoal)6b(etive

    name

    ;"rief goal)ob(etive desription ;Date of

    ompletion

    Products ;What produts and)or servies do you sell?

    Product8)er,ice escription Price

    ;0rodut)serviename

    ;"rief produt)servie desription ;nit prieinluding A5T

    i i l & l i ;I thi ti id hi h l l l i f

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    (.!.O.+. analysis;Gse the table below to list eah of your businesses 5trengths, Weaknesses, 6pportunities or Threats %5.W.6.T.&.

    )trengths (eaknesses

    /pportunities Threats

    *age =

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    (.!.O.+. activity sheet;6utline how and when you plan to address eah of the weaknesses)threats from your 5.W.6.T. analysis above.]

    ).(./.T weakness8 threat &cti,ity to address weakness8threat 5ompletion date

    *age :

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    ;"usiness #ame &arketing *lan ;-3!9

    The Market /,er,iew7athering information and identifying the key characteristics of your target market will help you

    to find the most effective way to reach your target customers. +he &arket Overview should

    provide an analysis of the market in which your business operates, including your customers,

    competitors and the market as a whole. 5evisitthis process regularly to ensure that your

    strategy remains relevant and targeted.

    0our Market

    Target marketC5ummarise the key statistis for your target market. This may inlude the

    si*e and growth potential of your market, as well as key demographis suh as age, gender,inome level et.]

    Market research and en,ironmental8industry analysis ;What researh have youompleted to help analyse your market? Did you utilise a survey);uestionnaire? If so, you maylike to attah a opy of your survey);uestionnaire and findings to the bak of this plan. In thissetion, detail the results of the market researh you have performed. $onsider ;uestions suhas7

    Is the area e'periening population growth or deline?

    Does the region where you operate have a stable eonomy?

    !re there any seasonal variations that might affet sales?

    What is the si*e of the market?

    What reent trends have emerged in the market?

    Is there potential for growth in the market? ow will you be able to apitalise on any

    opportunities?

    ill t ff t th k t) t ?

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    ;"usiness #ame &arketing *lan ;-3!9

    0our 5ustomers

    Target customers ;Who are your target ustomers and how do they behave? Inlude speifi demographis suh as age, soial status,eduation and gender. What are your ustomers lifestyles, ativities, values, needs, interests or opinions? Where are they loated? 0leasead(ust the olumn headings as re;uired.]

    5ustomer &ge Gender thnicity ducation =ocation =ifestyle nterests;Targetustomer hoose aname

    ;$ustomers!ge

    ;$ustomersAender

    ;$ustomersethnibakground

    ;$ustomerseduationlevel

    ;$ustomersloation

    ;$ustomerslifestyle

    ;$ustomersvalues

    ;$ustomersinterests

    5ustomer profile ;Whats the profile of an ideal ustomer for your business? In a paragraph or two, learly define your ideal ustomer + theirneeds, buying patterns and motivations for buying. This proess will help you to develop a mental image of your ideal ustomer %often referredto as a ustomer avatar&.]

    *age >

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    ;"usiness #ame &arketing *lan ;-3!9

    0our 5ompetitors

    5ompetitor analysis ;se the table below to analyse at least E ompetitors.

    5ompetitor stablished

    date

    )i?e Market

    share 6@7

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    0our Marketing

    Marketing /b:ecti,es ;5ummarise the key marketing ob(etives for your business. -our ob(etives may be finanial, with a goal to inrease

    sales, or marketing foused, to build awareness of your produt or servie. !n effetive %and aountable& way to define your marketing

    ob(etives is to follow the G5>!9T aronym %5peifi, >easurable, !hievable, 9ealisti and Timely& 1.

    3'amples of 5>!9T marketing ob(etives

    To ahieve a H2 return on apital employed by !pril H21J %0rofitability 6b(etive&

    To gain 1E of the market for sports soks by #ovember H21/ %>arket 5hare 6b(etive&

    To make K brand of (uie the preferred brand of H1+HL year old females in !ustralia by !ugust H21L %"randing 6b(etive&

    Detail your 5>!9T marketing ob(etives in the table below7

    /b:ecti,e )pecific Measurable &chie,able +ealistic Timely;-our speifi marketingob(etive

    ;Is your ob(etivespeifi?

    ;$an yourob(etive bemeasured?

    ;Is your ob(etiveahievable?

    ;Is your ob(etiverealisti?

    ;ave you set aspeifi date foryour ob(etive tobe ahieved?

    1Doran, G. T. (1981). There's a S.M.A.R.T. way to write management's goals an o!"e#ti$es. Management Re$iew, %ol&me , ss&e 11(AMA *+RM), --. /0.

    *age C

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    ;"usiness #ame &arketing *lan ;-3!9

    Marketing )trategy;se this setion to detail the overall strategy you will use to position yourself within the market to meet your ustomersneeds. Whatever your strategy, you goal should be to differentiate yourself from your ompetitors to enourage ustomers to hoose yourbusiness first. The speifi elements that make up your marketing strategy are typially referred to as the marketing mi'. 3ah element an bevaried to broaden the appeal of produts and servies, and will therefore have a diret impat on sales.

    The / 0Fs of marketing

    1 -our 096D$T %or 5398I$3&

    2 The 09I$I#A of your produt or servie

    -our 065ITI6# %plae& in the marketplae

    3 The 096>6TI6# of your produt of servie

    / The 0360:3 in your business %salespeople, staff et.& Clink]

    The 096$355 represents the buying e'periene Clink]

    The 0-5I$!: environment where the good)servies are presented Clink]

    8 096D$TI8IT- and Muality is an essential part of meeting ustomer needs Clink]

    $lik any of the links above to find out more about a speifi element and how it an be applied.

    *age E

    https://www.business.vic.gov.au/operating-a-business/developing-your-business/marketing/producthttps://www.business.vic.gov.au/operating-a-business/developing-your-business/marketing/pricehttps://www.business.vic.gov.au/operating-a-business/developing-your-business/marketing/product-and-placehttps://www.business.vic.gov.au/operating-a-business/developing-your-business/marketing/advertising-and-prhttps://www.business.vic.gov.au/operating-a-business/developing-your-business/marketing/producthttps://www.business.vic.gov.au/operating-a-business/developing-your-business/marketing/pricehttps://www.business.vic.gov.au/operating-a-business/developing-your-business/marketing/product-and-placehttps://www.business.vic.gov.au/operating-a-business/developing-your-business/marketing/advertising-and-pr
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    1. 0our P+/"5T 6or )+57

    ;ere you should desribe your long+term produt strategy in detail. If you are providing a servie then you should onsider your servie%s& asyour produt%s&.

    -ou will need to onsider7

    What features and benefits do you offer?

    The uni;ue selling position + what makes your produt)servie different from your ompetitors?

    0otential spin+off produts or servies?

    Product or )er,ice eatures enefits "niAue )ellingPosition

    )upport )pin /ffs

    ;What is your produt or

    servie?

    ;What are the

    features of yourprodut or servie?

    ;What are the

    ustomer benefitsof your produt orservie?

    ;What makes your

    produt or servieuni;ue?

    ;What additional

    support do youoffer? 3.g.warranty, moneybak et.

    ;!re there any

    potential spin+offproduts orservies you anoffer?

    *age H

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    2. The P+>5>4G of your product or ser,ice

    ;0rie is a ritial omponent of your marketing mi'. Why? "eause hoosing the right prie for your produts or servies will help you toma'imise profits and also build strong relationships with your ustomers. "y priing effetively you will also avoid the serious finanialonse;uenes that an our if you prie too low %not enough profit& or too high %not enough sales&.

    5etting pries for your produts and servies might seem like a daunting task, however, it doesnt need to be N (ust remember7

    you are in business to make a profit %and thats okO&

    most business owners underprie the value that they deliver

    your sales and marketing strategy should defend your pries

    -our overall priing strategy will depend on your marketing, business and lifestyle ob(etives. 5o, before you start the researh proess spendsome time defining your inome %and net profit& aspirations.!lso take a look at the small business e'peted inome benhmarks on the !T6website.

    Product or )er,ice Price 5osts 4et Profit 5omp. Price

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    3. 0our P/)>T>/4 6Place7 in the marketplace

    ;0lae refers to the hannels and loations for distributing your produt, related information, and support servies. This is how you will positionyour produt or servie in the marketplae.

    This inludes7

    the plae where the produt)servie an be boughtP

    the distribution hannelP

    0lae represents the loation where a produt an be purhased. It is often referred to as the distribution hannel. This may inlude anyphysial store %supermarket, departmental stores& as well as virtual stores %e+markets and e+malls& on the Internet. This is ruial as thisprovides the plae utility to the onsumer, whih often beomes a deiding fator for the purhase of many produts aross multiple produtategories.

    )ales and distribution channels

    5hannel type Products8ser,ices Percentage ofsales 6@7

    istribution strategy

    ;e.g. 5hopfront,internet, diret mail,e'port or wholesale.

    C:ist all theproduts)servies soldvia this hannel

    ;What perentageof overall sales doyou e'pet to sellvia this hannel?

    ;Why have you deided to use this hannel type? ow and whenwill you use it? What is the strategy behind using this hannel typefor this partiular produt)servie?

    *age =5&= 4+/4M4T where the good8ser,ices are presented

    ;The physial environment where your produts or servies are sold and delivered an have a signifiant impat upon how your ustomerse'periene your business. The physial environment represents the tangible aspets of selling your produts and servies, suh as the ;ualityof the furnishings in your onsulting rooms or the design of your reeption area. $reating a positive physial environment doesnt have to beostly a vase full of fresh flowers an make a big differene.

    se the table below to outline the physial environments that your ustomers e'periene when they buy your produts or servies and anyimprovements you might be able to make.]

    4ame )elling n,ironment eli,ery n,ironment >mpro,ements

    ;What is your produtor servie?

    ;Where is the produt or serviesold?

    ;Where is the produt or serviedelivered?

    ;What hanges an you make toimprove the 0hysial 3nvironment?

    *age =>

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    -. P+/"5T>T0 is an essential part of meeting a customerEs needs

    ;Improving produtivity is an important fator in ost managementP however, it also plays a key role in satisfying ustomer needs. The moreeffetive and effiient your marketing efforts are the more satisfied ustomers your business will reate at a lower ost.

    ere are some e'amples of strategies that ould improve your marketing produtivity7

    Improved >arketing !ounting take time to understand where resoures are being spent, ustomer value being reated and where

    money is being made or lost. >arketing !llianes share resoures, ideas and opportunities with other organisations that servie the same ustomers.

    3nourage $ustomer Involvement inrease ustomer satisfation and lower osts by adding ustomers to the value hain e.g. ask

    them to write guest posts for your blog.]

    4ame Cob Title epartment +esponsibilities

    ;>r $hris "rantley ;e.g. >arketing) 5ales >anager ;e.g. 5ales ;What are the main responsibilities ofthis position?

    *age =@

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    &arketing Activity

    ;6ne you have defined your marketing mi', the ne't step is to detail the speifi ativities that you will undertake to ahieve your marketingob(etives. !s you reate these ativities, keep referring bak to your marketing mi' it will help you to assess whih ativities are worth thetime and effort to implement.

    What steps or ativities will you undertake to ahieve your marketing ob(etives?

    Marketing acti,ity8milestone Personresponsible

    ate of e9pectedcompletion

    5ost 6F7 )uccess indicator

    C0rint advertising, online advertising, mail+out,giveaway, media release, event, website,blog)soial media, publi relations, branding andartwork, or publiations and atalogues.]

    CWho isresponsible forompleting thistask?]

    CWhen do youe'pet toomplete themarketingativity?]

    C3stimatedost ofativity.]

    CWhat indiator) measurementresult will need to be met beforethis ativity is onsidered asuess?]

    *age =C

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    0our inances&arketing Budget ;$'A5

    ;To omplete this marketing budget, you should rely heavily on your finanial statements and pro(etions. Double+lik the table below to enteryour details or attah your own budget at the bak of this marketing plan.

    *age =E

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    ;"usiness #ame &arketing *lan ;-3!9

    I tem Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

    Marketing/ promotion

    &arketing agency

    5adio advertising

    +elevision advertising

    *rint advertising

    Online advertising

    (ocial media

    !eb search optimisation

    &ailouts

    7iveaways

    'vents

    Branding artwork

    &erchandising

    *ublications

    9atalogues

    &oreM

    Marketing/ promotion total N

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    Organisational Implications

    ;6rganisational impliations are often overlooked when business owners takle a marketingplan. 4or e'ample, if your goal is to inrease your ustomer base by 1E and therefore yourstaff by 12 + will you be able to house them in your urrent offies? $ould you outsouresome tasks? Its important to onsider and doument these deisions in your plan.

    se the spae below to outline any organisational impliations, whih you feel may affet theimplementation of your marketing plan.

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    9ontingencies

    ;!ll plans in business should remain fle'ible %and ad(ustable& as you are often working withassumptions. The more planning you do, the better you will beome at prediting. owever,as you are learning the needs of your market + it is fair to say that some of your assumptionsare going to fall short of e'petation.

    se the spae below to outline any ontingenies %alternative options& whih may assist ifthings dont go as planned.

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    &onitoringDmeasurement activities

    ;9eviewing the impat of your marketing should be a periodi ativity. :ist the details of eah review in the table below.

    Marketing acti,ity ate ofre,iew

    Monitoring methods +e,iew outcomes

    C0rint advertising, onlineadvertising, mail+outs,giveaways, mediareleases, events,website, blog)soialmedia, publi relations,branding and artwork,or publiations andatalogues.]

    ;e.g.>onth)-ear

    ;What tools did you use tomeasure)monitor the impatof your marketing ativities?

    Ce.g. What were the results for the promotional period? Whatwere your sales)profit figures? ow many new)repeatustomers did you reeive? ow many ustomers visited yourwebsite? 3t.

    *age :=

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    )upporting documentation

    ;!ttah any supporting doumentation in relation to this marketing plan.

    :ist all of your attahments here. These may inlude resumes, ustomer survey);uestionnaire and)or finanial douments.

    *age ::

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    Glossary

    &ustralian usiness 4umber 6&47K a single identifying number used when dealing with other businesses and the Australian +ax Office.

    &ustralian 5ompany 4umber 6&547K the number allocated by the Australian (ecurities and Investments 9ommission 0A(I91 when youregister a company under the 9orporations 8aw.

    log Kis a shortened word for !eblog 0see !eblog1.

    5hannel K a way of delivering something to its destination, whether it is a message to be communicated or a physical product to be delivered.

    5ontract K a legally enforceable agreement made between two or more parties. A contract may be a verbal contract or a written contract 0ormay be partly verbal and partly written1.

    emographics K the characteristics of a population or segment of the population, commonly examined demographics include age, gender,ethnicity, knowledge of languages, employment status, mobility and geographic location.

    omain nameK an identification string 0name1 that identifies an organisationJs address on the internet, either a website address or an emailaddress. omain names are formed by the rules and procedures of the omain 6ame (ystem 06(1. 9lick here for more information

    Goods and )er,ices Ta9 6G)T7K a broad?based tax of =< per cent on the sale of most goods and services in Australia.

    Highend usually refers to expensive or high /uality productsDservices.Market positionK refers to the position an organisation, product or service has in the market, usually in relation to its competition.

    Milestone K a goal or ob"ective with a target date.

    Mission statement is a statement 0usually internally facing1 which outlines how a business 0organisation1 intends to achieve its Vision. Itshould define the *G5*O(' and *5I&A5$ OB'9+IV'( of the business and answer the /uestion, 2!hat do we do-3

    )ocial mediaK a group of technology including Blogs, online networks 0e.g. +witter, 4acebook, &y(pace, 8inkedIn1 and online collaborationtools often used to expand your networkDmarket reach or collaborate on a large scale.

    "niAue selling positionK a characteristic of a business or a productDservice that sets it apart from the competition.